Givaudan, the global leader in the flavour and fragrance industry, has recorded sales of CHF1,242m (€1.162m) in the first three months of 2017.

The Swiss company reported sales of CHF666m in its flavour division, a 12.6pc increase year on year. The sales performance was driven by new wins and business momentum in the North American, Europe, Africa and the Middle East markets.

Its fragrance division reported sales of CHF576m, a 2.6pc increase year on year.

In 2016 Givaudan recorded sales of CHF4.7bn, and net income of CHF644m.

The company said that it will continue to implement price increases in collaboration with its customers to compensate the increases in input costs.